At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $195,000; Total liabilities of $15,000; and Total paid-in capital of $60,000.  For the year, the company reported total revenues of $226,000 and expenses of $175,000. Likewise, dividends during the year amounted to $48,000. 

Assuming no other changes in retained earnings, what would be the balance in the retained earnings account at the end of the year?